Here is my analysis:
- Litecoin will move up and test at least EMA50. If EMA50 can be conquered then EMA100 comes next, which is my main target short-term for Litecoin.
- Divergence is showing up on the indicators after the drop .
- There are multiple that are pointing to a move to the upside...
All the additional details can be found on the chart.
Here is the same setup but for LTCZ19 (BitMEX instrument for leveraged trading):
This is not financial advice.
If you have any questions feel free to use the comments section below.
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This is Alan Masters.
Thanks again for reading.
In any case, now I avoid until it starts making more sense.
The only reason I can think of is BTC is getting up at the same time (actually lagging a few minutes behind and it is killing LTC/BTC ratio).
In any case, whenever I consider ALT rising I keep watching BTC. In order for alts to rise steady BTC needs to be rising or falling very slowly, the longer this consolidation time the better reaction from altcoins. Once BTC starts moving fast enough alts go down (no matter the BTC direction).
And 6730 is my first target for LTCBTC. We will see how that goes.
Thanks for sharing.